FDIC Certificate #: 34135 Status: Inactive Closing history: Merger - Without Assistance Acquiring institution:Waukon State Bank (#1857) Federal Reserve ID: 2339964 Bank Holding Company (Regulatory Top Holder): Wfc, Inc. (RSSDID: 1142783, Location: Waukon, IA) Date Established: Febuary 20, 1996 WWW:http://www.vikingstatebank.com Trust Powers Granted: Yes Bank Charter Class: Commercial bank, state charter and Fed member, supervised by the Federal Reserve (FRB) Offices: 2 (Domestic: 2, Interstate: No) FDIC's unique #: 56278 Numeric code: 13 Regulator: FED Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes Agricultural lending institution: Yes Ownership Type: Non-Stock FFIEC Call Report 31 Filer: No State Chartered: Yes Subchapter S Corporations: Yes Asset Concentration Hierarchy: Agricultural Specialization Date of Deposit Insurance: Febuary 20, 1996 Last Structure Change Effective Date: January 01, 2012 Last Structure Change Process Date: January 19, 2012 Last Data Update: January 19, 2012 Data Source Date: April 05, 2012
Location
Address: 321 West Water Street, Decorah, IA 52101 County: Winneshiek Quarterly Banking Profile Region: Kansas City FDIC Geographic Region: Kansas City FDIC Supervisory Region: Kansas City FDIC Field Office: Cedar Rapids Office of the Comptroller the Currency (OCC) District: Midwest Office of Thrift Supervision Region: Western
Financial Summary
Total assets: $110.0 mil Equity capital: $12.3 mil Deposits held in domestic offices: $96.8 mil Return on assets (ROA): 2.27% ($2.5 mil) Quarterly return on assets: 2.63% ($2.9 mil) Return on Equity (ROE): 21.79% ($2.6 mil) Quarterly return on equity: 24.12% ($2.9 mil) Net income: $2.4 mil Quarterly Net income: $0.7 mil Pretax return on assets: 2.38% ($2,619.2 mil) Quarterly Pretax return on assets: 2.73% ($3,004.3 mil)
1992 - 1999 Historical total assets, liabilities and capital ($ mil)
2000 - 2011 Historical total assets, liabilities and capital ($ mil)
Historical Total Incomes ($ mil)
Historical Total Expenses ($ mil)
Historical total employees (full-time equivalent)
Assets and Liabilities (December 31, 2011)
Dollar figures in thousands
15Total employees (full-time equivalent)
$110,049Total assets
$12,635Cash and due from depository institutions
$0Interest-bearing balances
$11,756Securities
$4,000Federal funds sold & reverse repurchase agreements
$79,141Net loans & leases
$1,361Loan loss allowance
$0Trading account assets
$1,208Bank premises and fixed assets
$0Other real estate owned
$0Goodwill and other intangibles
$110,049Life insurance assets
$1,309All other assets
$97,770Total liabilities and capital
$96,819Total liabilities
$84,464Total deposits
$96,819Interest-bearing deposits
$87Deposits held in domestic offices
0.00%% insured (estimated)
$0Federal funds purchased & repurchase agreements
$750Trading liabilities
$0Other borrowed funds
$201Subordinated debt
$12,279All other liabilities
$12,279Total equity capital
$12,279Total bank equity capital
$0Perpetual preferred stock
$200Common stock
$3,050Surplus
$9,029Undivided profits
Memoranda
$0Noncurrent loans and leases
$460Noncurrent loans that are wholly or partially guaranteed by the U.S. government
$620Income earned, not collected on loans
$0Earning assets
$842Long-term assets (5+ years)
$94,897Average Assets, year-to-date
$14,267Average Assets, quarterly
$107,949Volatile liabilities
$109,908Insider loans
$86,617FHLB advances
$109,640Loans and leases held for sale
$0Unused loan commitments
$0Tier 1 (core) risk-based capital
$11,830Tier 2 risk-based capital
$0Total risk weighted assets
$0Total unused commitments
$15,067Restructured Loans and leases
$501Derivatives
Income and Expense (December 31, 2011)
Dollar figures in thousands
$5,254Total interest income
$1,090Total interest expense
$4,164Net interest income
$30Provision for loan and lease losses
$407Total noninterest income
$0Fiduciary activities
$187Service charges on deposit accounts
$0Trading account gains & fees
$220Additional noninterest income
$1,974Total noninterest expense
$1,056Salaries and employee benefits
$185Premises and equipment expense
$733Additional noninterest expense
$2,567Pre-tax net operating income
$0Securities gains (losses)
$118Applicable income taxes
$2,449Income before extraordinary items
$0Extraordinary gains - net
$2,449Net income attributable to bank
$0Net charge-offs
$2,449Cash dividends
-$76Sale, conversion, retirement of capital stock, net
$1,163Net operating income
Performance and Condition Ratios (December 31, 2011)
Dollar figures in thousands
Performance Ratios (%, annualized)
5.55%Yield on earning assets
1.15%Cost of funding earning assets
4.40%Net interest margin
0.43%Noninterest income to earning assets
2.09%Noninterest expense to earning assets
2.27%Net operating income to assets
2.27%Return on assets (ROA)
2.38%Pretax return on assets
21.79%Return on equity (ROE)
11.44%Retained earnings to average equity (YTD only)
-0.09%Net charge-offs to loans
-39.47%Credit loss provision to net charge-offs
0.00%Efficiency ratio
43,185Assets per employee
7.34%Cash dividends to net income (YTD only)
Condition Ratios (%)
47.49%Loss allowance to loans
1.69%Loss allowance to noncurrent loans
219.52%Noncurrent assets plus other real estate owned to assets
0.56%Noncurrent loans to loans
0.77%Net loans and leases to deposits
81.74%Net loans and leases to core deposits
86.17%Equity capital to assets
11.16%Core capital (leverage) ratio
10.79%Tier 1 risk-based capital ratio
13.66%Total risk-based capital ratio
Memoranda
$15Average assets
$107,949Average earning assets
$11,237Average equity
$94,665Average loans
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